Government Insider tells me Economic Collapse is Imminent.

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posted on Jul, 14 2011 @ 02:06 PM
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Thanks for the info OP.

Lets just watch everything around us fall apart,thats seems to be whats happening.

And everyone who thinks everything is all fine,you just keep on thinking that.

Cheers




posted on Jul, 14 2011 @ 02:32 PM
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Originally posted by Stovokor
reply to post by camaro68ss
 


What do clams have to do with anything?

'
Troll is obvious trying to derail the thread and he has been reported for that, and btw 'Mr Grammar Police' you might wanna check your spelling in your signature its Pray NOT Prey....



posted on Jul, 14 2011 @ 03:02 PM
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reply to post by camaro68ss
 


Camaro:

Thanks for bringing this out in the open. My 2 cents worth is below.

I see banks hoarding cash to the hilt. They don't want to lend it out right now because if they wait a bit interest rates will rise and then they will lend out money. Yet they have to show they are accepting and entertaining loan applications.

What a farce!

Loan apps are a counter used by the government as an indicator of how things are progressing. When was the last time anyone spoke with an intelligent, knowing loan officer? It was at least 3-4 years ago. They fired all the knowledgeable people and hired every idiot in town at minimum wage!

Additionally, why would a bank want to tie up a few hundred grand for 30 years at a peanut interest rate? This the best reason to avoid making the loans. If you have a good borrower, the best a bank will get is peanut interest!

Another aspect that is very obvious to me is that banks will proceed with a foreclosure and stop just before they take possession of the property. Why? Because the banks would rather have the borrower be on the hook for R/E taxes, insurance, upkeep and anything else the banks can avoid. If the bank took possession (ownership) of a property, then the bank will now have to start paying all these things, without any income to off-set their costs.

Banks are not in business to loose money. They are in business to make money - off of us!!!!

The banks are protecting their money, at the borrower's expense. Pathetic!!!!

BTW - I don't want to get started on the scam that online banking is..... We'll save that for another thread.

-E2



posted on Jul, 14 2011 @ 03:06 PM
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reply to post by EyesII
 


yes this is all true, this is all the stuff in the background that no one is talking about. There are so many ticking time bombs out there its sick.



posted on Jul, 14 2011 @ 03:10 PM
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There are two curtains. Curtain 1 and Curtain 2.

Even if you feel there is no difference between Democrats and Republicans, there is no curtain 3. I agree that the differences are minor between Democrat and Rebpublican because they all head in the same direction. Which further backs up my claims that we are dealing with a SYSTEMIC problem.

IN other words, the system has failed. We know economic systems based on borrowing fail because they generally enter a mathematical period of unpayable debt. The debt just gets shuffled. In the case of the banks the debt did not go away, it was just shuffled to the US government/tax payer.

That is why Israel of old used a Jubile year to settle debts ever 50 years. It is just a mathematical problem. Now you could argue that countries such as China that have a financial surplus disprove that theory, but I can also show you how over the past 30 years that there was a systemic industrial shift toward China warranted by no other reason than politics and that China used currency and trade manipulation to come out on top.

Either way you look at it, the US comes out holding the bag on the worlds (banks) debts by either money spent on them TARP or by guarantees of faith and credit. The US dollar itself being used as a bench mark currency for trade.

Now a group wants to pull the dollar as a bench mark currency for trade including Russia and China and create a basket of currencies. Well, the US used its faith and credit to prop up the world economy over the past 20 years so that makes me a bit skeptical. In fact, the US dollar has become the whore of all the earth, everyone using the whore equally. (kind of reminds us of the biblical prediction of the whore falling in an hour and great is the fall of it- but that is just whacko prophecy right).

So anyway, yes the US dollar is the whore that keeps it all going. The anti-whore is Gold but gold is also problematic. I mean you could use sea shells for currency if you wanted to if everyone agreed on their base value. Up to about 3 years ago, gold was considered mostly an industrial metal not an investment metal except for coin and jewlery dealers. It has only become an investment vehicle in the past 3 years but it is still an investment vehicle just like any other (stocks, currency, bonds, commodities, etc.) therefore it is subject to raids. The price of gold is subject to plummeting just like anything else due primarily to market exit.

Market exits then have become the subject of asymetric warefare inquiry of recent times.

Hummm... asymetric war? So, that's right. Somebody is waging war against the US and instead of using bombs they are using financial raids. NOW you can begin to get to the bottom of the story taking this outlook. But WHO is launching the raids? That is what I will leave you to figure out.

But now that you know we have been subject to raids, our whole economic situtation takes on new meanings because I can assure you that not every US Congressman is smart enough to figure this out. Therefore, even if they do launch spending cuts (in defense for example), then they could play right into the hands of these raiders!

In other words, the whole of the last 4 years (and more) have been a set up. It is mostly artificial warfare being brought against the US.

In that light, why is it we are under attack you might ask? That is the real story here. Finance is just a tool of the most current form of war. What Americans need to start asking themselves is why the interest in taking them down? Why the infiltration into banking and politics? Why the planned raids? What is the real end game of this?



posted on Jul, 14 2011 @ 03:11 PM
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This just broke on ATS

www.abovetopsecret.com...



posted on Jul, 14 2011 @ 03:15 PM
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reply to post by camaro68ss
 


Hey Camaro, great thread. Being a bit of a stock market investor myself, this sort of makes sense considering the banks are struggling, they wouldn't want to add any more fuel to the fire, yet might be forced to soon.

Did he give an ETA of when something like you mentioned in the OP would occur?



posted on Jul, 14 2011 @ 03:18 PM
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reply to post by mossme89
 


im guessing at the end of the 3Q. look at the post right above yours, i linked to a braking story about the topic



posted on Jul, 14 2011 @ 03:21 PM
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reply to post by camaro68ss
 


Yeah, I saw that after I posted. Interesting to know that they missed the deadline by a day, but considering they are big banks, I doubt it'll be an issue. But I think it could possibly add evidence to your OP. After reading that article, I just got the strange feeling the banks are hiding something.

Edit:


On Capitol Hill, Democrats who have long called the OCC too friendly to banks have been skeptical that the review process is going to be thorough or fair. They are pressing the regulator to make public the findings of the bank consultants. The OCC has said it plans to publish only general reports on the reviews.

www.nasdaq.com...
Hmm.. Interesting
edit on 14-7-2011 by mossme89 because: (no reason given)



posted on Jul, 14 2011 @ 03:26 PM
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So the regulators are trying to get to the bottom of the mortgaqe crisis for both the foreclosed homeowners and so forth. This is understandable but with the plans by the banks just now being released, we can imagine that they have been covering up information for the past 3 years. They still might be covering up information.

Obviously some people have been foreclosed on outside of legal procedures. That is part of the investigation.

The problem is that we are 3 years into the crisis and we are just now getting into a real investigation. This shows the lack of experience and business sense of the current Administration. The last 3 years have been a disaster.

So I don't hold that the Democrats and Republicans are alike. They are not alike. Harry Reid has not had a budget (required by law) in the past 2 years. Obama hasn't cared either.

They (Reid and Obama) only have basic grasps of constitutional law, economics, culture and financial structures but yet have touted law making that can not possibly be supported by the US economic system.



posted on Jul, 14 2011 @ 03:28 PM
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Originally posted by mossme89
reply to post by camaro68ss
 


Yeah, I saw that after I posted. Interesting to know that they missed the deadline by a day, but considering they are big banks, I doubt it'll be an issue. But I think it could possibly add evidence to your OP. After reading that article, I just got the strange feeling the banks are hiding something.

Edit:


On Capitol Hill, Democrats who have long called the OCC too friendly to banks have been skeptical that the review process is going to be thorough or fair. They are pressing the regulator to make public the findings of the bank consultants. The OCC has said it plans to publish only general reports on the reviews.

www.nasdaq.com...
Hmm.. Interesting
edit on 14-7-2011 by mossme89 because: (no reason given)


I think thats what they are hidding, the 4 million bad loans that have not hit the books yet due to the banks not forclosing on morgages



posted on Jul, 14 2011 @ 03:29 PM
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I am ready to side with Democrats and Republicans that want full disclosure from the banks. We all know we are in a world of #. Everyone knows it. The foreign governments know it. The American people know it (or at least can sense it).

This whole OP has been on target from the get go but yet even on ATS we find people who can't handle the truth.



posted on Jul, 14 2011 @ 03:37 PM
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Hey, if anyone wants to make some cash in a second housing bubble, buy some shares of SRS or FAZ. These are inverse ETF's for the financial sector and real estate, so if the market goes down, they go up. From September 19, 2008 to November 21, 2008, SRS increased by 280%.

Not saying that I want it to happen, but if it does happen, might as well help earn some cash for your family... at the bankers expense
edit on 14-7-2011 by mossme89 because: (no reason given)



posted on Jul, 14 2011 @ 03:37 PM
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i think this is the branch he was talking about

www.occ.treas.gov...



posted on Jul, 14 2011 @ 03:45 PM
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reply to post by camaro68ss
 


sh*t flows down hill.

Sucks if you got swindled by that.


Good news: the war with China that will happen cause we can't pay them will bring about infrastructure upgrades and technological improvements. Would be nice to see the local neighborhood upgraded.



posted on Jul, 14 2011 @ 03:54 PM
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reply to post by camaro68ss
 


So finally perhaps that the masses will start realize that they've been robbed for all these years, with loans and houses they should haven't paid for from day one!

Shelter is a RIGHT, not a privilege you have to work for everyday to protect.

Next stop: squat the houses of ultra-rich! Kick these bastards out! That's all they deserve.



posted on Jul, 14 2011 @ 04:01 PM
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Originally posted by Skewed
reply to post by RevRay
 


While I do not disagree with your feelings, destroying the property could lead you to further problems not related to the original issues.

Although, being from a construction background there are things you can do. You can make the property out of code, preventing resale and costing the banks even more money. In some places, and depending on building codes, you could make cuts in the concrete slab(if applicable) and cut through any plumbing that is in the concrete. There are venting codes for water heaters and furnaces that must meet certain standards. There are plumbing standards that must be met.

The building codes are public knowledge and you can get your hands on the codes and you can modify the property to not meet the codes. This will force the bank to spend money to bring the property back to code. IMO, cutting the concrete slab is one of the better ones because in some demographics, water lines and drainage cannot be cut and must be full runs without any connections. This alone could force the bank to have rip up the entire slab to fix the pipes. Concrete slabs can be very costly, especially when it is on an existing property.

Just my 2 cents.
edit on 14-7-2011 by Skewed because: (no reason given)


Great Idea, but I think I won't have to worry about the Code stuff cause I built this House and the Guest House without getting permits to do so. Now I know for sure that the electric and plumbing won't be able to be changed without ripping both places down. I built to code in most cases but without Permits to do so, well that will really screw them for sure. You see I live out next to a National Forest and no one ever comes down that road 3 miles in the woods.
I will know if the Sheriff will come if they try to foreclose, which I don't think they would even find my place.
There is no way to keep me out even if they did. My yard has land will be their death knell (improvised land mines) front and rear.
Plus other really neat weapons devised by me and my friends. Like home made microwave emp's.
We are ready for War.
You know when they teach guy's like me this stuff and then threaten the same they should be a little worried, don't you think?



posted on Jul, 14 2011 @ 04:33 PM
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reply to post by OutKast Searcher
 




I blame the lawyers and home owners. They aren't paying their agreed upon mortgage...and they hire a lawyer to use a technicality to be able to stop a foreclosure. So they are responsible for creating this huge stockpile of houses that will eventually go on the market. It isn't a matter of IF these houses will eventually be officially foreclosed and put on the market...it is WHEN. And it sounds like the WHEN may come for all of these homes at one single time. It comes down to PERSONAL responsibility...and these home owners have none...and it will be the ruin of our country.


Saying that is like saying the citizens of Greece caused their economic problems.

The FED banks were completely the problem, they are the ones that supposedly know the financials and supply-side economy. I don't know what genius thought it was great idea to dump billions in near interest free money for "teaser rates".

Oh wait I do, it's the three headed turd of Bush(43)/Allan Greenspan and Ben "The Bernak" Bernake (continued by dear Mr.Obama.)

Anyways, if you dump cash into private markets you make them go bezerk! It's night dumping blood into a shark pit and then saying you have no idea why the sharks start attacking the boat. Instead off running off the safety (like 90% of the passengers that arn't watching America's got Talent want) Captain Obama and seamen Bernake decide the best option was to dump even more (and higher concentrated) blood into the water to fix the problem. Who do you blame in that situation?

In other words if a teacher gives out pixie sticks to her kindergarten class and then leaves them unsupervisied and they trash the room, whose fault is it?

You're right: the teacher.
edit on 14-7-2011 by Skerrako because: (no reason given)



posted on Jul, 14 2011 @ 04:42 PM
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Just to put a face on the 4,000,000; I am one of them and here's my story. In 2006 I was a contractor working for a developer converting condos. He convinced me I needed to buy a house for the tax breaks if nothing else.

My wife and I had three kids at the time. My boss said to stretch to the limit of my credit. Everything was going up. He was going tO give me points in his business.

That same year we had a surpass daughter. BC is not flawless. In 2008 the condo biz tanked. I went out on my own and was just making it. My wife is a speech therapist making $45/hr.

In 2010 my 2nd son was born bringing the number of children to 5. There is a saying in Greek, my mother reminded me, that every child is born with a loaf of bread under his arm. In other words, have faith. Children are a blessing.

4 months into my baby's life, he contracted an unknown virus that attacked his blood and liver. Some kind of autoimmune response was klling him. In spite of having " full coverage" our medical bills began to pile up. At the same time, my wife was forced to miss about three months of work.

We got a couple months behind on the mortgage. With the charity of friends, our church and family, we were able to meet our monthly bills again. One hitch, the bank would not take our mortgage payments any longer unless we paid the 2 months in arrears plus penalties and interest. They said they could not qualify for TARP funds if we were not "significantly behind."

In otherwords, they stood to make more money if we defaulted. The federal govt would pay them the entire amount for our bad mortgage AND they got to keep the deed.

We tried in vain to qualify for their programs. We sent package after package of tax returns, profit and loss statements and net worth statements. Each time they "lost" our documents or a new person was assigned to our account. We pleaded to make payments. They refused to take them. They continued to make request for 50 page faxes of the same info we had sent countless times.

Finally, we hired a third party company to negotiate on our behalf. In the meant time, between the increased cost of living and the continuing medical bills, we have put away little money.

I have worked since I was 15. I was brought up to pay my bills but to also take reasonable entrepreneurial risks. Today it feels as if the deck is stacked against us. I know our story is common and millions of Americans and Europeans are in the same position.

Here's the bottom line. We did not enter into our mortgage with the intention of making a profit. We certainly had no intention of defrauding anybody. We never could have predicted the market collapse or medical issues. I am willing to work my ass off the rest of my life.

What is immoral is not our inability to meet our obligation. It is the fact that the govt made deals behind closed doors to buy our mortgage from our bank and get nothing in return except finding itself on the brink of failure while banks post record profits, sit on vast reserves of cash and pay their executives obscene salaries and bonuses.

All I am left with is my unwavering faith in God as I understand Him and the love of my wife who has remained steadfastly faithful.

God bless us. Long live anonymous! Fkn A!



posted on Jul, 14 2011 @ 04:50 PM
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Wait I don't get it..people really think this is just a conspiracy and a lie? I mean seriously you people need to wake up and do some research, Obama can tell you it's fine all he want's, but we're almost at the same outcome Greece ended up at. As a matter of fact you can probably use Greece as a look into our future, because I damn well hope we Americans riot like they did if the Government decides to take up a bailout.





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